FTX Exploit Address Transfers $17 Million Worth of ETH
An address associated with the FTX exploit, identified as 0x3e9, has transferred over 10,000 Ether (ETH) worth around $17 million across five different addresses since September 30. These addresses had been inactive for several months before the recent activity.
A significant amount of the transferred ETH, approximately 7,749 ETH worth $13 million, was sent to the THORChain router and Railgun contract. The exploiter also swapped 2,500 ETH worth $4.19 million for 153.4 tBTC at an average price of $27,281 per token.
The initial hack on September 30 resulted in losses of nearly 50,000 ETH.
Ethereum Futures ETFs Launch Amidst Hack
The hack occurred just as the market was preparing for the launch of Ethereum futures ETFs on October 2.
FTX Co-Founder’s Trial Set to Begin in October
The trial of FTX co-founder Sam Bankman-Fried is scheduled to start in October and is expected to last six weeks. Jury selection will begin on October 3, followed by initial court proceedings on October 4. Bankman-Fried is facing seven charges related to fraudulent activities, including two substantive charges and five conspiracy charges.
Bankman-Fried has pleaded not guilty to all allegations but remains in custody despite multiple attempts to secure temporary release. Judge Lewis Kaplan denied his recent request for release due to concerns about the possibility of him fleeing.
Hot Take: FTX Exploit Address Continues Transfers Worth Millions
An address linked to the FTX exploit, known as 0x3e9, has moved more than $17 million worth of ETH across different addresses. The exploit involved sending a significant portion of the funds to the THORChain router and Railgun contract. Additionally, the exploiter converted a substantial amount of ETH into tBTC tokens through a swap. This incident comes at a time when the market is eagerly awaiting the launch of Ethereum futures ETFs. Meanwhile, the trial of FTX co-founder Sam Bankman-Fried is set to commence, with him facing multiple charges related to fraudulent activities. Despite pleading not guilty, Bankman-Fried remains in custody as his request for release was denied due to flight risk concerns.
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